Should You Get Your Solicitor to Review a Property Contract?

I often receive phone calls from people who say they have found a property they are interested in buying and want me to review and advise them on the Contract. When I ask them if they have made an offer which has been accepted, usually the answer is no.

Many people want to know if there are any issues raised in the Contract before they make an offer. However, this is the wrong way to look at it. Better to reach an agreement on the price first rather than wasting time on Contract reviews and other enquiries such as building reports and strata inspection reports which can involve substantial expense.

Any vendor who agrees on a price will then expect the purchaser to make further enquiries as part of their due diligence and can hardly be surprised if the purchaser pulls out due to some serious issue arising.

Finally, just because a price has been agreed upon, a purchaser is not legally obliged to proceed with the purchase until such time as Contracts are exchanged.
So feel free to make that offer first and find out if you can make the deal happen!

September 2021